Many investors aspire to establish businesses in the UK due to its favorable economy. However, the application process for the Tier 1 Entrepreneur Visa has undergone recent changes, making it essential to seek the guidance of a credible and experienced firm. One such firm is the Saad Ahsan Immigration Law Firm, which provides the best immigration guidance, helping applicants successfully secure the Tier 1 Entrepreneur Visa.
75 Points for Attributes
The first step towards securing the Tier 1 Entrepreneur Visa is accumulating 75 points for specific attributes. This involves having an investment fund of £200,000 and a commitment to investing in a UK business or businesses. Alternatively, if your funds come from sources like UK entrepreneurial seed funding competitions, UK government departments, or registered venture capital firms, a minimum investment of £50,000 is sufficient. Our experienced consultants will help you choose the right investment path and ensure your application meets the criteria.
10 Points for the English Language
As the UK is an English-speaking country, applicants must demonstrate proficiency in the language. You can pass the set English language test or provide a document equivalent to a UK bachelor’s degree taught in English. Our team will assist you in preparing for the language test and ensure you meet the language requirement.
10 Points for Maintenance (Funds)
Upon arrival in the UK, you must have a personal fund of at least £3,000 to support yourself. This amount should be held for at least 90 days before your application date. Our experts will review your financial documents and guide you on maintaining the required funds during the waiting period.
Tier1 Entrepreneur Visa Processing Time
The processing time for the Tier 1 Entrepreneur Visa varies from country to country and depends on the chosen application method. It can range from a day to 10 weeks. Applying in person can lead to a same-day decision while using by post can take 8 to 10 weeks to process. However, seeking the services of experts like the Saad Ahsan Immigration Law Firm can expedite the process, reducing the processing time to just 2 weeks, thanks to their rich experience and partnerships.
Tier 1 UK Entrepreneur Visa Investment Opportunities
The UK Tier 1 Investor Visa program is for investors who want to move to the UK with their immediate family, including children under 18. An investment of at least £2 million is required to be eligible. The initial visa is valid for 3 years and 4 months, and it can be extended for 2 years. After that, applicants can apply for indefinite leave to remain. The duration of time required for an investor of this category to be eligible for permanent residency is often dependent on the amount invested:
- With an investment of £2 million, you will be eligible for permanent residency after 5 years in the UK.
- With an investment of £5 million, you will be eligible for permanent residency after 3 years in the UK.
- With an investment of £10 million, you will be eligible for permanent residency after 2 years in the UK.
- If you are interested in applying for this visa category or are already in the process, the guidance from the Saad Ahsan Immigration Law Firm will help walk you through the process.
Tier 1 UK Entrepreneur Visa Documents Checklist
When applying for the Tier 1 Visa program, you need to have the following documents ready:
- Current Passport.
- The Complete Visa application form.
- A colored passport-size photograph.
- Evidence of funds available to invest in a UK business.
- A comprehensive business plan that equates to the investment amount.
- Evidence of your ability to support yourself in the UK (about £3000 required).
- Must pass the set test for the English language or provide a document equivalent to a UK bachelor’s degree showing your academic qualification, which was taught in the English language.
- Applying through an experienced consultant or firm like the Saad Ahsan Immigration Law Firm ensures a stress-free application process as your application will be handled by an expert with years of rich experience in the field.
Embrace the Entrepreneurial Spirit
The Tier1 UK Entrepreneur Visa opens the door to exciting possibilities for driven entrepreneurs. Although the original Tier 1 (Entrepreneur) Visa is no longer available, the Innovator Founder Visa provides alternative avenues for those eager to make their mark in the UK business landscape.
With a conducive business environment, supportive infrastructure, and a thriving market, the UK beckons entrepreneurs to seize the opportunity and embark on a rewarding business journey. Let the Saad Ahsan Immigration Law Firm assist you in every possible way, steering you towards success in the vibrant and dynamic world of UK entrepreneurship.
Frequently Asked Questions (FAQs)
1. What is the UK Tier 1 Entrepreneur Visa?
The UK Tier 1 Entrepreneur Visa offers opportunities for individuals to set up businesses as sole traders, in partnerships, or as UK-registered companies.
2. Who is eligible for the Tier 1 Visa in the UK?
Eligibility for the Tier 1 visa includes having £2 million held for less than 2 years, being based outside the EEA and Switzerland, being over 18 years old, and having a UK bank account.
3. How much do you need for the entrepreneur visa UK?
To apply for the Tier 1 Entrepreneur Visa UK, you need access to funds of £50,000 or £200,000 (depending on your circumstances) to invest in your UK business.
4. Is the UK Tier 1 visa still available?
The original Tier 1 (Entrepreneur) Visa is no longer available, but alternative options like the Innovator Founder visa are available for setting up and running businesses in the UK.
5. What is the minimum salary for a Tier 1 visa UK?
The typical minimum Skilled Worker salary level is £26,200 (increased from £25,600 in March 2023).
6. How long is the UK Tier 1 visa valid?
The initial Tier 1 Investor visa is valid for either 3 years and 4 months (if applying from overseas) & 3 years (if applying from within the UK).
7. What are the benefits of the Tier 1 UK visa?
Tier 1 Investor visa holders and their immediate family (spouse and children under 18) can live in the UK without the requirement to work, study, or undertake business activities. Additionally, they are exempt from taking English language tests and fulfilling the maintenance requirements, making it a convenient choice for investors seeking business opportunities in the UK.
